大豆出口销售失望

In the overnight session the grains traded lower with corn down 1 1/2 cents, soybeans down 5 1/2 cents and wheat down 4 cents going into this morning’s pause in trade. Keep a close watch on the WASDE report which will be released at 11 CST.

Export sales were released this morning which showed corn and wheat beat analyst expectations for old crop sales. Corn booked 639,000 metric tons, up 57 percent week over week and well over expectations of which ranged between 350,000-450,000 metric tons. Wheat booked 319,900 metric tons up 97 percent compared to last week’s sales and also well above the expectations of between 50,000-150,000 metric tons. Soybeans underperformed this week with cancellations reported of 176,700 metric tons which was disappointing to traders that expected sales between -50,000-150,000. China switched 355,000 metric tons from old crop to new crop delivery causing the majority of the “net cancellations” recorded this week. Soybeans recorded new crop sales of 502,400 metric tons this week with China making up over 80 percent of it. Traders have been looking for cancellations in the soybean market for the last month as South American exports have been ramping up.

这是今天上午发布的WASDE报告中要注意的内容。根据路透社对20位分析师的民意调查，小麦结束股票的平均猜测为6.92亿蒲式耳，比3月份的报告增长了100万蒲式耳。预计玉米终止股票的报告为18.54亿蒲式耳，高于3月份WASDE报告中报告的17.77亿蒲式耳。这将反映3月31日报告的高于预期的季度股票数量。季度谷物库存显示手头上有77.45亿蒲式耳，而市场预期的是76.0亿蒲式耳，这表明要么低于预期的饲料使用情况，要么比以前规定的14/15生产大。大豆结局预计将有3.7亿蒲式耳约3.7亿蒲式耳，这将比3月份的报告下降了1500万蒲式耳。截至3月1日，季度谷物股票显示出较少的大豆，与13.46亿蒲式耳的期望相比，蒲式耳13.34亿蒲式耳。

—Cody Bills